Kura Oncology, Inc. has recently announced the adoption of its 2023 Inducement Option Plan, which was amended by the Board of Directors on December 16, 2024. The plan is designed to provide inducement grants to individuals who satisfy the standards for inducement grants under Nasdaq Marketplace Rule 5635(c)(4) or 5635(c)(3), and the related guidance under Nasdaq IM 5635-1.
Under the plan, the company intends to grant nonstatutory stock options (Options) as inducement awards to eligible employees. The Board will administer the plan, with the power to grant awards and determine the provisions of each award, including the number of shares of Common Stock subject to the award and the Fair Market Value applicable to an award.
The plan provides for a share reserve of 2,500,000 shares of Common Stock that may be issued pursuant to awards. In addition, the plan outlines provisions relating to options, including their form, terms, and conditions. Each option will be in such form and will contain such terms and conditions as deemed appropriate by the Board.
Furthermore, the purchase price of Common Stock acquired pursuant to the exercise of an Option may be paid by any combination of methods, such as cash, check, bank draft, money order, or delivery of shares of Common Stock, subject to the Board's discretion.
The plan also addresses the transferability of Options, stating that an Option will not be transferable except by will or by the laws of descent and distribution, and will be exercisable during the lifetime of the Participant only by the Participant.
As a result of these announcements, the company's shares have moved 0.4% on the market, and are now trading at a price of $9.01. Check out the company's full 8-K submission here.
